UK carp specialist secures funding for bigger premises
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A family-run fishing tackle retailer in the U.K. has opened a new purpose-built shop after securing a six-figure commercial mortgage.
Carp fishing specialist, CPS Tackle, has used the funding to relocate from a 900sqft rented office space to a new 4,800sqft unit on the same industrial site. in Warwickshire The deal has secured the long-term future of the business and paved the way for continued organic growth.
The business had outgrown its old shop unit and due to limited space, was unable to showcase a selection of products to its customers, including Apex Baits, which was founded by the owner of CPS, Keith Roberts. Apex Baits is a popular variety of homemade carp baits and over the next few years he hopes to significantly grow this part of the business.
Roberts, said: “We’ve been operating from our original site since I founded the business in 2010, and as the company has grown, we’ve increasingly found it difficult to stock enough products to serve our customers. The funding from HSBC UK has allowed us to move into our first new premises in eight years.
David Tomlinson, HSBC UK’s Area Director in the East Midlands, said: “Keith has built the business from the ground up and since he founded CPS Tackle in 2010, he has demonstrated considerable entrepreneurial flair. He has consistently grown the company year-on-year and we look forward to supporting it as it looks ahead to this new and exciting chapter.”